ROSEN, A LEADING LAW FIRM, Continues To Investigate Securities Claims Against Hanmi Financial Corporation – HAFC
NEW YORK, March 09, 2020 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Hanmi Financial Corporation (NASDAQ: HAFC) resulting from allegations that Hanmi may have issued materially misleading business information to the investing public.
On January 28, 2020, Hanmi issued a press release announcing the Company’s financial results for the fourth fiscal quarter of 2019. Therein, Hanmi reported net income of $3.1 million for the quarter, which included “a $6.9 million specific provision for loan and lease losses related to [a] previously identified $39.7 million troubled loan relationship.” According to Hanmi’s President and Chief Executive Officer Bonnie Lee, “[w]ith the loans comprising this relationship maturing on December 31, 2019, [Hanmi] received current appraisals on the personal property securing the relationship and ha[s] provided for a specific allowance at the lower range of the appraised values.”
On this news, Hanmi’s stock price fell $1.77 per share, or 9.43%, to close at $16.99 per share on January 29, 2020, injuring investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Hanmi investors. If you purchased shares of Hanmi please visit the firm’s website at http://www.rosenlegal.com/cases-register-1767.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
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